Important points to remember when buying a new home.

Buying a home is a major endeavour and enjoying a fruitful real estate transaction calls for knowledge and experience. The venture introduces unique challenges which need to be broached and dealt with using optimum caution. Before stepping into the seemingly fuss-free and utopic idea of home-buying, it is obligatory that certain points are well-versed and settled in the mind for a smooth transaction experience.

Adopting an abode is an investment of unparalleled proportions. Not just financial, a sizeable amount of emotion and expectation go into it. Because your nest id your cradle of sugar, spice and all things nice, it is but natural that a certain level of care and awareness finds its way into preparing to get one.

Before being swept up in the exhilaration of buying a home, for starters, try and determine when the time is right. Buying an abode requires a great deal of time, money and energy to purchase and maintain. Such steps, if ill-timed, lead to regretful purchasers, a state which should be ideally avoided. Coupled with right timing, it makes sense to review your credit score and request a credit record, as staying debt-free and establishing a good record of managing credit obligations will spell out credit worthiness – which will keep mortgage lenders interested. The more one saves towards a down payment (in terms of a percentage of the purchase price), the better the mortgage terms will be. In addition to that, it helps to keep your banker on board and updated about your fiscal plans and engage his expertise in working out a savings plan – in order to be prepared, financially, while the purchasing process is under way. Educating oneself about what to expect and what to avoid, backed by proper financial planning, keeps one abreast of the seemingly ever-burgeoning liabilities that tail a real-estate purchase. Get an essence of your monthly income before taking any step – your budget for buying a home should be based on your household budget and how much money you can put aside for the EMI of a loan plan. Any unanticipated circumstances such as loss of employment or any situation which strains pecuniary resources should be accounted for. Along with finance, having a good insight into present needs along with future goals will stand you in good stead while making an informed decision about investing in a house. Making informed decisions is further amped up when accompanied by a thorough knowledge about different interest rate options available. Keep in mind that interest rates depend on the market, fluctuating according to the economic situation in the country. Never hold back on comparing options when it comes to loans and be open to negotiating to buy yourself the best deal.

Financial preparedness is always well supplemented by an awareness of the area you plan to move to. Any decision to invest in a property should be preceded by having knowledge about the credibility of the builder – which entails looking into the developer’s last projects, work, quality of construction, etc. Ensuring that the builder has completed all regulatory and legislative obligations, prior to striking any deal is a must, not adhering to which can lead to serious consequences for the buyer in the long haul. Keeping oneself secure in the home buying process is the key. Along with negotiating better rates with the builders, schedule site visits to check the status of the construction.

Taking care of the sale deed and the verification of all legal documents to ensure that they are duly signed to sidestep hassles, should ideally culminate in a smooth process of registration with the local authority (with the seller documenting that the property is being transferred to you) and ultimately, possession (the physical transfer of property).

Sieving through all property ads strewn across multifarious portals and processing the endless property information online can be exhausting in this busy schedule. We at Zoogyo understand this problem and offer our services (in the form of Zoog Scan property selection services) to help you overcome this. Because you already have truckloads of responsibilities to take care of on your plate, Zoogyo aims to lessen your burden by taking on some of the primary responsibilities itself. Save on time and efforts by opting for our Zoog Scan services honed to examine and evaluate the physical condition of a property, on the request of the buyer. Components fundamental to a home, like electrical work, plumbing work, and the overall prevailing condition of the property will be checked and the prospective buyer will receive the report for the same within three working days of request

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